Trump’s Triumph Sparks Crypto Surge: Bitcoin Soars Past 103 Million Won

Bitcoin breaks past previous high in dollar terms, New York Times “91% chance of Trump winning” 1 million won difference to previous high in won, Dogecoin surges 30%… Trump support ‘Musk’ effect

[웨스트팜비치=AP/뉴시스] As U.S. Republican presidential candidate Donald Trump is known to be ahead in key battleground states, optimism on Trump’s side is growing. Trump supporters cheering at the ‘Election Night’ event held at the convention center in West Palm Beach, Florida, USA on the 5th (local time). 2024.11.06
[서울=뉴시스]Reporter Jiyoung Lee = Bitcoin, a leading virtual asset, surged 10% due to Republican candidate Donald Trump’s lead. Bitcoin, which was hovering around 96 million won on the morning of the 6th, broke through the 103 million won level in 3 hours. In dollar terms, it broke the previous high ($73,777).

As of 1:35 p.m. on the 6th, Bitcoin recorded 103.48 million won on Bithumb, a domestic virtual asset exchange, up 6.39% from 24 hours ago.

At the same time, it was traded on Upbit at 103.48 million won, up 7.58%.

CoinMarketCap, a virtual asset market relay site, showed $74,919, up 9.62% from 24 hours ago.

Ethereum, the leading altcoin, also soared. At the same time, Ethereum recorded 3.58 million won, up 4.51% on Bithumb, and 3.58 million won, up 6.60% on Upbit. On CoinMarketCap, it was traded at $2,692, up 6.79%.

The reason why the market rallied within a few hours was because the chances of Trump being elected, who showed pro-virtual asset moves, increased.

According to the New York Times real-time US presidential election prediction system on the 6th (local time), Trump’s probability of winning the presidential election is 91%. The system predicted that Trump would become President of the United States by securing 301 electoral votes, beating Democratic candidate Vice President Kamala Harris (237).

In the virtual asset industry, there has been optimism that Bitcoin could exceed 200 million won following Trump’s election.

Standard Chartered (SC), which predicted that Bitcoin would exceed 100 million won when it was in the 30 million won range, said in a report in May, “If Trump is re-elected, the price of Bitcoin will rise to $200,000 (about 276 million won) by next year. “It could rise,” he said.

Bitcoin broke its all-time high in dollar terms with today’s rally. Previously, Bitcoin recorded $73,777 on Binance on March 14th. This means that the record price was broken after about seven and a half months.

The won price has not yet been reported. There is about 1 million won left to reach the previous high point of Bithumb (104.5 million won) recorded last March.

As Trump’s election was highly predicted, Dogecoin also set up a fire pillar. It is analyzed that this is due to Tesla CEO Elon Musk, also known as the Doge Papa, supporting Trump.

At the same time, based on CoinMarketCap, Dogecoin jumped 29.38% compared to the previous day.

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